(Bloomberg) -- China's stocks fell to a three-week
low after official media said the slide in shares since stamp
duty was tripled last week is ``within expectation,'' suggesting
the government won't act to stem the decline.
The CSI 300 Index dropped 3.7 percent to 3664.35 as of 11:30
a.m. local-time break, set for its lowest close since May 15.
It's lost 12 percent from its May 29 peak after the government
raised the tax on share trades to 0.3 percent. About 30 companies
in the measure, including Huadian Power International Corp., fell
by the 10 percent daily limit today.
Read more at Bloomberg Emerging Markets News
low after official media said the slide in shares since stamp
duty was tripled last week is ``within expectation,'' suggesting
the government won't act to stem the decline.
The CSI 300 Index dropped 3.7 percent to 3664.35 as of 11:30
a.m. local-time break, set for its lowest close since May 15.
It's lost 12 percent from its May 29 peak after the government
raised the tax on share trades to 0.3 percent. About 30 companies
in the measure, including Huadian Power International Corp., fell
by the 10 percent daily limit today.
Read more at Bloomberg Emerging Markets News
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